Hatchlings 2011: Rs.1 lakh startup capital for the best social & commercial ventures in Mumbai
Hatchlings 2011, a pan-Mumbai entrepreneurship competition for management Students, calls for registrations from Mumbai-based management colleges
IndiaSocial Fund, a social venture capital fund, has launched Hatchlings 2011, an entrepreneurship competition for the students of management institutes in Mumbai. Hatchlings 2011 will be run in over leading management colleges in Mumbai.
The competition is aimed at boosting the imagination of budding student-entrepreneurs by providing them with a platform to showcase their ideas, along with the requisite mentoring support.
Gaurav Shah, CMD & CIO of IndiaSocial Fund said, “Hatchlings 2011 is a one of its kind event, which offers a solid platform to the budding entrepreneurs of India to showcase their true potential. And it doesn’t just stop there. It also offers the necessary ecosystem to the winning ideas to get them off the ground and create a successful venture.” Gaurav further added, “We are offering the winning ventures, prize money of Rs. 1 lakh for starting up along with critical mentoring and hand-holding support in the initial months to get the venture successfully started and align their strategies to make it successful.”
Hatchlings 2011 will have a three-tier selection process as per the following schedule –
Round One: Will be carried out at each college (to be done till 31st July 2011)
Round Two: 20th August 2011 (top 16 ventures comprising of 8 commercial & 8 social ventures will be shortlisted for the final round). A one-day mentoring session will be carried out for the top 16 venture ideas on 21st August 2011.
Finale: 27th August
Each venture will have 16 minutes to present their business idea to a panel of eminent judge. 2 extra minutes will be provided to social ventures to present an impact measurement analysis of their business idea.The jury, which includes Gaurav Shah of IndiaSocial Fund and other venture capitalists, will select the best Hatchling from each of the tracks and they will be awarded a sum of Rupees One Lakh and the mentoring support. The jury includes industry veterans like Jinesh Shah, Managing Partner, Omnivore Capital and Ex-CFO, Nexus Venture Partners, Rahul Narayan, Associate VP, Sequoia Capital, Gaurav Shah, CMD & CIO, IndiaSocial Fund, Group MD & CEO, DeGroup and Kaustubh Dhargalkar, Head, Innowe, Welingkar Institute.
Speaking on the occasion of the launch of Hatchlings 2011, Jinesh Shah, co-founder, Omnivore Capital, said “Hatchlings 2011 is expected to provide a platform of interaction between entrepreneurs and investors. I also hope that it will be able to direct the energies of entrepreneurs in the right direction and help to create large, sustainable businesses.”